Mr Taylor, who also serves as general counsel to the firm, said that Theranos had engaged the services of investment bank Jeffries to try to "maximise the value of the company" for shareholders.
The once-heralded blood-testing startup Theranos is shutting down, according to a media report.
In June, the US Justice Department said a federal grand jury in California indicted Holmes, 34, and Ramesh "Sunny" Balwani, 53, who had been president and chief operating officer.
His first expose on the company's technology ran in October 2015, and Theranos voided two years of its blood tests just seven months later.
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The Botswana government however put the figure of the elephants at 230,000. " I'm shocked, I'm completely astounded ", Chase said. Botswana has had a reputation for an unforgiving approach to poachers and had largely escaped the elephant losses seen elsewhere.
He said the company was attempting to reach an agreement with Fortress to give it ownership of Theranos's patents but leaving its remaining cash of about $5 million for distribution to other unsecured creditors.
Prosecutors allege Holmes and Balwani deliberately misled investors, policymakers and the public about the accuracy of Theranos' blood-testing technologies going back to at least 2013. Former CEO Elizabeth Holmes' black turtleneck and lofty goals drew comparisons with Apple's Steve Jobs. At one time, Theranos was worth more than $10 billion and Holmes was the youngest self-made female billionaire.
The once high flying blood-testing start-up Theranos, accused with cheating investors, will dissolve, the Wall Street Journal reported Wednesday.
The Journal's investigation marked the beginning of the end of Theranos.
The Fortress Investment Group loaned $65 million to Theranos previous year, with one condition being that Theranos maintain a cash level that has now been breached-hence the dissolution process that will play out over the coming months. Holmes settled with the SEC by agreeing to pay $500,000 in fines and penalties, while Balwani is fighting the charges.